FHA Loan With 3-Way Partnership?

Question

Hello Everyone,

My two business partners and I are looking to invest in a small multifamily property. I will be living in one of the units. They will be living elsewhere. Can we still apply for an FHA loan under these circumstances? If you have experience with 3-way RE partnerships, please also provide any insights on how you structured the partnership if one was living in the property and doing the majority of management.

Thank you in advance for your response.

Adam Widder · Answer

Tim Swierczek- thoughts on this? Tim could help you underwrite that loan. Top MF lender in the Minneapolis metro

Jeff Schemmel · Answer

@Ryan Bratsch @Adam Widder's recommendation for @Tim Swierczek is solid!  he's excellent and I'm certain he's got some good investment advice for you as well.  Have you done a deal yourself before?

Ryan Thomson · Answer

@Ryan Bratsch Sounds possible if they are co-signers on the loan. Do you need them in order to qualify or for the downpayment? I wonder if there is cheaper solution then giving up 1/3 of everything.

FHA Loan With 3-Way Partnership?

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